The GBPUSD forecast update 26-03-2024
GBPUSD Price Analysis
- The GBPUSD price shows weak trades since morning, moving near the broken neckline of the double top pattern, and as long as the price is below 1.2700$, our bearish overview will remain valid and active for today, supported by the negative pressure formed by the EMA50, noting that our targets begin at 1.2580$ and extend to 1.2480$.
The expected trading range for today is between 1.2540$ support and 1.2700$ resistance.
Trend forecast: Bearish
The EURUSD price forecast update - 26-03-2024
EURUSD Price Analysis
- The EURUSD price shows positive trades to approach testing the key resistance 1.0860$, which urges caution from the upcoming trading, as the price needs to consolidate below this level to keep the bearish trend scenario valid for the upcoming period.
- The EMA50 meets the mentioned resistance to add more strength to it, accompanied by witnessing clear overbought signals through stochastic, which supports the chances of resuming the expected bearish trend on the intraday basis, which targets 1.0765$ as a next main station, noting that breaching 1.0860$ will stop the negative scenario and lead the price to turn to rise.
The expected trading range for today is between 1.0720$ support and 1.0870$ resistance.
Trend forecast: bearish
The EURCHF keeps the positivity – Forecast today – 26-3-2024
EURCHF Pair Analysis: Recent Developments and Forecast
The EURCHF pair has concluded its correctional bearish rebound by testing and holding above the additional support at 0.9690. This has injected new positive momentum, strengthening the dominance of the bullish bias as prices rally towards 0.9760. Furthermore, stochastic indicators are indicating a potential surge in positive momentum, increasing the likelihood of surpassing the barrier at 0.9775.
A successful breach of the 0.9775 barrier could lead to the recording of new positive gains, with targets extending towards the 0.9825 level in the near term. Subsequently, the pair may aim to reach the 0.9855 resistance, which is crucial in renewing the next main trend.
Trading Range Projection
- Upper Bound: 0.9825
- Lower Bound: 0.9725
Trend Forecast
Bullish
Natural gas price surrenders to the indicators’ negativity – Forecast today – 26-3-2024
Natural Gas Price Analysis: Recent Trends and Forecast
The natural gas price has begun to exhibit negative tendencies, succumbing to the influence of major indicators that are driving negative momentum. This has led to a gradual decline towards the $1.605 level, edging closer to the historical support at $1.540.
It's important to note the persistent fluctuation below the initial barrier at $1.810, coupled with mounting negative pressures. This situation threatens the stability of the historical support, and a break below it would signify a resumption of the negative trend, potentially resulting in further losses. Targets in this scenario include a move towards $1.250, followed by reaching the psychological support at $1.000.
Trading Range Projection
- Upper Bound: $1.750
- Lower Bound: $1.540
Trend Forecast
Bearish